The Chicago Fed National Activity Index (CFNAI) rose to -0.10 in June 2025 (from -0.16 in May), reflecting slightly improved activity, though still below trend.

• The CFNAI-MA3 (3-month moving average) declined to -0.22 (May: -0.14), pointing to a slower trend in economic momentum.
• The CFNAI Diffusion Index fell to -0.37 (May: -0.32), indicating broader weakness across indicators.
• Production-related indicators improved slightly, contributing -0.01 (May: -0.06).
• Sales, orders, and inventories contributed -0.04 (May: +0.01), and employment contributed -0.05 (May: -0.01).
• Personal consumption and housing improved to -0.01 (May: -0.10).